A slowdown in export demand has resulted in a rise in unsold quantities of tea, particularly leaf varieties, at the Coonoor Tea auctions.
Traders said that in Sale 11, nearly 22 per cent of the leaf grades remained unsold as many exporters deferred purchases amid the ongoing crisis in West Asia. The weak export interest has also weighed on prices, with certain leaf grades registering a decline.
However, domestic buyers stepped in to support the market for dust grades, leading to better demand in that segment.
Global Tea Auctioneers said that the quantity offered in leaf was 8,20,499 kg, witnessing a sales percentage of 75, while for dust, it was 84 per cent out of the offered quantity of 2,73,671 kg.
The high-priced teas and better liquoring sorts were lower by ₹3 to ₹4 and more at times, occasionally some quality lots sold dearer by ₹2 to ₹3. The better medium was lower by ₹1 to ₹2, occasionally some quality lots sold dearer by ₹2 to₹3. Generally a less demand was noticed in the overall CTC leaf sale.
In CTC dust, high-priced and better liquoring sorts were barely steady to occasionally dearer by ₹3 to ₹4. The better medium sorts were lower by ₹2 to ₹3.
The primary orthodox dust grades were sold dearer by ₹4 to ₹5 and more at times in line with quality. The secondaries and finer dusts were barely steady to easier by ₹1 to ₹2 and more at times.